What Will COLA Be In 2023? - Crossroads Today
As inflation soars and seniors struggle to pay their daily expenses, much of the conversation these days focuses on whether the 2023 Cost of Living Adjustment (COLA) to Social Security will come even close to offsetting higher prices. Well, since COLA is computed using metrics from the past, the 2023 COLA, whatever it is, won’t offset higher living expenses already incurred but will, nevertheless, be a welcome bump in our monthly Social Security payment. The 2023 COLA won’t be known until October, so it’s too soon to know how much of an increase 2023 will actually bring. But we can speculate what next year’s increase might be, based upon the current inflationary trends. And that is what is discussed in this Crossroads Today article by Keith Speights. Click here to read more.